The news article discusses the possibility of Saudi Arabia influencing the U.S election by manipulating oil prices to ensure President Biden loses to Donald Trump. This strategy is based on the historical trend that no U.S President has won an election when oil prices are near $100 a barrel. This tactic could potentially impact the outcome of the election as oil prices have a significant influence on the economy and voter sentiment.
In addition to the discussion on political influence, the article highlights the remarkable performance of Gold in the commodity markets. Gold’s price has been steadily rising, reaching new all-time highs of $2,431 an ounce. The precious metal has seen a substantial 23% increase since mid-February and an impressive 35% gain since October. Analysts suggest that the close attention should be paid to the ratio between Gold and Oil prices, as they tend to rise in tandem during periods of inflation.
The strong performance of Gold in the commodity market reflects its status as a sought-after asset class for investors. The article underlines the importance of Gold as a traditional hedge against inflation, contrasting with the support for Oil prices during times of sticky inflation. This dynamic correlation between Gold and Oil prices is crucial for understanding market trends and making informed investment decisions.